Perpetual Ltd Takes Position in Toast, Inc. (NYSE:TOST)

Perpetual Ltd bought a new stake in Toast, Inc. (NYSE:TOST) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,670,183 shares of the company’s stock, valued at approximately $60,878,000.

Other hedge funds have also made changes to their positions in the company. Toth Financial Advisory Corp purchased a new stake in Toast in the 3rd quarter worth approximately $28,000. Raleigh Capital Management Inc. raised its holdings in shares of Toast by 93.4% during the third quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock worth $42,000 after acquiring an additional 720 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Toast by 32.3% during the third quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock worth $58,000 after acquiring an additional 496 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Toast in the third quarter valued at about $59,000. Finally, Truvestments Capital LLC acquired a new position in Toast in the 3rd quarter worth about $65,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Toast from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday, November 4th. Robert W. Baird lifted their target price on shares of Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Stephens increased their price target on shares of Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Wells Fargo & Company lifted their price objective on shares of Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Finally, BNP Paribas cut shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Toast currently has a consensus rating of “Hold” and an average price target of $35.27.

Insider Buying and Selling

In other news, Director Richard Kent Bennett sold 100,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $36.67, for a total value of $3,667,000.00. Following the sale, the director now owns 418,591 shares of the company’s stock, valued at approximately $15,349,731.97. This represents a 19.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher P. Comparato sold 145,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the completion of the transaction, the director now owns 182,451 shares in the company, valued at approximately $6,575,534.04. This trade represents a 44.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 562,600 shares of company stock valued at $21,823,932 over the last three months. 13.32% of the stock is owned by corporate insiders.

Toast Trading Up 2.4 %

NYSE:TOST opened at $37.76 on Tuesday. The company has a fifty day moving average price of $38.91 and a 200 day moving average price of $31.11. Toast, Inc. has a one year low of $16.13 and a one year high of $44.12.

About Toast

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.